In the early morning of March 26, Baltimore's Francis Scott Key Bridge collapsed when a container ship struck it, killing six construction workers and severing water access to most terminals within the Port of Baltimore indefinitely. With respect to economic losses from the port closure, the temporary losses for the region look to be severe. However, there are several reasons to be optimistic about the port's recovery and a minimal long-term loss for the region and the nation.
Federal Reserve Bank of Richmond/April 9, 2024